The accounting principle that states that, In the preparation of account statements, revenues are recognized as soon as goods is passed on to the customer is the
-
A.
materiality conccept -
B.
matching concept -
C.
constitiency concept -
D.
realization concept
Correct Answer: Option D
Explanation
The realization principle is the concept that revenue can only be recognized once the underlying goods or services associated with the revenue have been delivered or rendered, respectively.